false 0001693577 0001693577 2023-10-23 2023-10-23 0001693577 mnsb:CommonStockCustomMember 2023-10-23 2023-10-23 0001693577 mnsb:DepositarySharesCustomMember 2023-10-23 2023-10-23
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): October 23, 2023
 
 
mlogo.jpg
 
MainStreet Bancshares, Inc.
(Exact name of Registrant as Specified in Its Charter)
 
 
 
Virginia
001-38817
81-2871064
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
     
10089 Fairfax Boulevard, Fairfax, VA
  
22030
(Address of Principal Executive Offices)
  
(Zip Code)
 
(703) 481-4567
(Registrant’s Telephone Number, Including Area Code)
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
 
☐         Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐         Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐         Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
  
Trading
Symbol(s)
  
Name of each exchange on which registered
Common Stock
  
MNSB
  
The Nasdaq Stock Market LLC
Depositary Shares (each representing a 1/40th
interest in a share of 7.50% Series A Fixed-Rate
Non-Cumulative Perpetual Preferred Stock
  
MNSBP
  
The Nasdaq Stock Market LLC
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
Emerging growth company  ☒
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
 
 
 
 
Item 8.01 Other Events
 
There was a miscommunication during the MainStreet Bancshares, Inc. (the "Company") virtual earnings call held on October 23, 2023, regarding a question about the estimated expense run rate for the Company for calendar year 2024. Management estimates the expense run rate for the Company for calendar year 2024 to be in a range of $52.0 - $53.0 million. This information should be read in conjunction with the Company's most recent Annual Report on Form 10-K and all subsequent Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, each of which is available on the Securities and Exchange Commission’s website (sec.gov).
 
Investors are cautioned that forward-looking statements, which are not historical fact, involve risks, assumptions and uncertainties that change over time, including those detailed in the Company's Form 10-K under the section, “Risk Factors”.  As such, actual results could differ materially from those expressed or implied by forward-looking statements made in this presentation. Management believes that the expectations in these forward-looking statements are based upon reasonable assumptions within the bounds of management’s current knowledge of the Company's business and operations. The Company disclaims any responsibility to update these forward-looking statements to reflect events or circumstances after the date of this presentation.
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
MAINSTREET BANCSHARES, INC
 
 
 
 
Date: October 27, 2023
 
By:
/s/ Thomas J. Chmelik
 
 
 
Name: Thomas J. Chmelik
 
 
 
Title: Chief Financial Officer
 
 
v3.23.3
Document And Entity Information
Oct. 23, 2023
Document Information [Line Items]  
Entity, Registrant Name MainStreet Bancshares, Inc.
Document, Type 8-K
Document, Period End Date Oct. 23, 2023
Entity, Incorporation, State or Country Code VA
Entity, File Number 001-38817
Entity, Tax Identification Number 81-2871064
Entity, Address, Address Line One 10089 Fairfax Boulevard
Entity, Address, City or Town Fairfax
Entity, Address, State or Province VA
Entity, Address, Postal Zip Code 22030
City Area Code 703
Local Phone Number 481-4567
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity, Emerging Growth Company true
Entity, Ex Transition Period true
Amendment Flag false
Entity, Central Index Key 0001693577
CommonStock Custom [Member]  
Document Information [Line Items]  
Title of 12(b) Security Common Stock
Trading Symbol MNSB
Security Exchange Name NASDAQ
DepositaryShares Custom [Member]  
Document Information [Line Items]  
Title of 12(b) Security Depositary Shares
Trading Symbol MNSBP
Security Exchange Name NASDAQ
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